McLaren agrees £170m Surrey HQ sale to US REIT
McLaren Group has agreed to sell and lease back its headquarters in Woking, Surrey, to New York-listed investor Global Net Lease for £170m.
The Formula 1 team owner will occupy the 840,000 sq ft, three-property office and industrial campus on a 20-year lease.
The site includes a technology centre, a production centre – where the brand’s luxury supercars are hand-built – and a thought leadership centre.
McLaren Group has agreed to sell and lease back its headquarters in Woking, Surrey, to New York-listed investor Global Net Lease for £170m.
The Formula 1 team owner will occupy the 840,000 sq ft, three-property office and industrial campus on a 20-year lease.
The site includes a technology centre, a production centre – where the brand’s luxury supercars are hand-built – and a thought leadership centre.
The deal is expected to close by the end of May.
James Nelson, chief executive of GNL, said: “The acquisition exemplifies GNL’s ability to source large-scale and accretive sale-leaseback opportunities in a competitive marketplace that add significant value to our overall portfolio.
“We believe our global presence as a leading net lease REIT will continue to provide attractive acquisition opportunities that complement our best-in-class portfolio.”
Robert Campkin, head of corporate capital solutions for EMEA at Colliers International, which advised McLaren on the deal, said: “The iconic McLaren campus received significant interest from some of the largest and most established domestic and overseas investors.
“We carried out a comprehensive review of all interested investors and financing solutions to reach a successful outcome for both parties.”
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Picture © 2020 McLaren
